The South African-based company MAS Real Estate has reached an agreement with the Germans at Union Investment Institutional Property to sell, for EUR 91 million, an office building in Scotland and has also sold a land in East Sussex for EUR 20 million. The money will be reinvested in the development of retail projects in Romania.
Last year, MAS Real Estate sold its shopping and logistics centers in Germany for EUR 195 million as part of its strategy to redirect money stored in Western European properties to more attractive investments in Central and Eastern Europe, especially Romania.
The investor also wants to sell shopping malls, a hotel and land in Germany and the United Kingdom worth EUR 126.9 million.
